New Delhi, Fintech firm Lendingkart Technologies on Monday launched a co-lending Software-as-a-Service (SaaS) platform called “Lendingkart 2gthr” for all financial institutions including banks and Non-Banking Financial Companies (NBFCs).
The “Lendingkart 2gthr” platform enables banks and NBFCs to on-board within two weeks and disburse unsecured loans to micro, small and medium-sized enterprises across India, the company said.
The platform enables co-lenders to initiate processing loan applications with “end-to-end funnel visibility and control”.
Co-lenders can review and approve loans through a custom dashboard which provides information and insights, enabling real-time decision making.
Lendingkart said it collaborated with banks and NBFCs in a risk-sharing partnership to assist them in extending their reach to remotely-located MSMEs across India leveraging its omni channel capabilities.
Backed by LendingKart’s technology platform, “Lendingkart 2gthr” provides enhanced loan management capabilities, specialised credit underwriting model and flexibility to configure co-lender specific policy rules to support all stages from origination to disbursal.
“Our objective has been to enhance credit penetration to credit starved and worthy businessmen and the platform ‘Lendingkart 2gthr’ is a stepping stone in enabling the financial institutions to play an equal part towards achieving it,” Harshvardhan Lunia, Co-Founder and Managing Director of Lendingkart Technologies, said in a statement.
“We believe that by partnering with Lendingkart and getting onboard on this platform, financial institutions can play a significant role in addressing the credit gap in this (MSME) underserved but high growth potential sector.”
Founded in 2014, Lendingkart has developed technology tools based on big data analysis and machine learning algorithms which facilitates lenders to evaluate borrower’s credit worthiness and provides other related services.
The startup has offices in Ahmedabad, Bengaluru, Mumbai, Delhi NCR and has service reach across India.
